‘Blase attitude’ to home insurance to blame for lack of cover
February 22, 2008 by admin
Filed under News, News-Insurance
Consumers’ blase attitude to home insurance could be the motivation behind many consumers failing to take out cover, claim financial experts. 
Norwich Union estimated that, out of the 25 per cent of home owners who are supposedly without contents insurance, more of them are to be found in larger cities and built up areas as opposed to rural communities.
Alison Palmer, household underwriting consultant for Norwich Union, said that many people take the view that “‘well, it’ll never happen to me. I’ll be alright, I haven’t got anything worth insuring anyway’”.
“As you’ve probably seen from the events that happened last summer it can happen easily. People lose everything and it’s a horrible thing,” she added.
The number of consumers without contents insurance has not changed in the past few years, concluded Ms Palmer.
New research from Legal & General, shows that Britons keep their most valuable personal possessions and documents in their kitchens.
According to reports, the UK insurance industry paid out £9 million to householders for property damage or loss of possessions in 2006.
Lending to get tighter in the New Year
December 22, 2007 by admin
Filed under News, News-Loans
The effects of the credit crunch will see lenders “tightening up” and looking at minor misdemeanours which may well have been ignored in the past, claim financial experts. 
Equifax has said there could be an increase in the number of loan applications in the New Year, as lenders look more carefully at a person’s payment history.
Neil Munroe, external affairs director for Equifax, said: “Any negativity that might not have been a problem in the past might rise in prominence.”
He also warned consumers that an increase in the number of applications within a short space of time can look suspect.
Repeated searches on a consumer’s history have the potential to affect a person’s credit rating.
The latest figures from Credit Action show that total consumer credit lending to individuals in October 2007 was £222 billion. This has increased 5.8 per cent in the last 12 month.
Total lending in October 2007 grew by £8.8 billion.
